This page includes files and videos that explain how to prove concepts such as timing adjustments for a half year assumption; varying WACC; ungearing and gearning of Beta and other concepts. For proofs that involve the terminal value, a long-term model is established.

	Subject		Excel File		Video Link		Chapter Reference		Page Reference

Proof of Timing in DCF
A/P in DCF Proof	Shows why cannot treat AP as Financial Liability		AP Proof.xlsm		https://www.youtube.com/watch?v=NIPWylXN9hw
Provisions for Warranties in DCF
Deferred Taxes from Cap Exp
Deferred Taxes from NOL
ROIC and DCF with Fair Value of Derivatives
Diluted Shares and Value of Stock Options
Discontinued Operations in DCF



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DCF Proofs